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Raleigh Housing Market

By Nick Leverett

Raleigh listings increase sharply even as sales rise in the market

The number of homes for sale in Raleigh jumped 20.3% year over year in April, continuing a recent trend of rising inventory. The increase in local listings came even as home sales rose compared to last year. The median home sale price in Raleigh ticked up slightly, though not as quickly as the national median.

Raleigh home sales rise, posting largest annual gain of the year

In April, home sales in Raleigh were up 7.2% from a year earlier. The gain was the market’s largest year-over-year increase in 2026. Home sales had fallen in two of the three previous months compared to a year before.

Raleigh’s housing demand continues to benefit from positive population and employment trends. Raleigh was the fastest-growing major market in the country in terms of population growth from 2024 to 2025, according to recently released data from the U.S. Census Bureau. While growth here moderated slightly, it didn’t slow as much as in most parts of the country.

Nationally, sales rose in 18 of the top 40 markets, with the number of closings falling in the other 22 markets.

Raleigh inventory continues to rise

Active listings in Raleigh rose 20.3% in April, the fourth-highest percentage increase among the top 40 markets nationwide. The latest increase in the number of homes for sale in Raleigh follows two months in a row in which Raleigh led the country in percentage increase in inventory. The number of homes for sale in the market has risen by at least 20% annually for 14 consecutive months.

Despite those large percentage increases, there are still just 6,091 homes for sale in Raleigh. Only five of the country’s top 40 markets have fewer homes for sale.

Raleigh’s home prices rise, but just barely

Raleigh’s median home price rose 0.3%, or $1,197 year over year, in April to $445,000. The rise in prices was the third consecutive month of annual increases, following two months of declines. Raleigh’s moderate price increase was led by condo prices, which jumped 30.8%. Single-family home prices in Raleigh fell 1.9% in April on a year-over-year basis, while townhome prices were flat.

Nationally, the median sale price increased 1.7% year over year in April, and prices rose in 25 of the country's top 40 markets.


KPI tile showing Raleigh sale price at $445,000, alongside 6,091 listings and 2,052 sales.
Raleigh had a median sale price of $445,000, with 2,052 transactions and 6,091 listings.


Raleigh Sale Prices

The median home sale price in Raleigh increased by 0.3% compared to the same time last year, while the national median price rose by 1.7%.

Raleigh ranks 24th for annual median price change among the top 40 US markets

Raleigh median home prices rose by $1,197 year over year on a nominal basis in April to $445,000. Meanwhile, the national median home price increased by $6,500 to $390,000.

Raleigh's median home price is above the nation's

Raleigh was the 17th highest-priced housing market among the top 40 largest markets last month. The Raleigh median home price of $445,000 was 14.1% above the national median home price. Raleigh's median home price in April compares to the market's peak of $459,800 recorded in June of 2025.

Raleigh single-family prices decrease

The median price of Raleigh single-family homes fell $9,000 over the past year to $476,000, while the median townhome price was unchanged, and the median condo price rose 30.8%.


Dashboard-style chart showing Raleigh median sale price at $445,000, up 0.3% annually ($1,197), ranking 17th nationally for pricing.
Raleigh home prices reached $445,000 with 0.3% annual growth, significantly trailing the 1.7% U.S. pace and ranking mid-tier nationally.


Bar chart of Raleigh sale prices from 2018 to 2026, rising from roughly $270,000 to about $445,000 with a recent plateau.
After rapid gains through 2022, Raleigh sale prices stabilized in the mid-$400,000 range with limited upward momentum into 2026.


Area chart showing Raleigh annual price growth peaking near 30% in 2022 before slowing to smaller ups and downs recently.
April price growth slowed to just 0.3% in 2026, a stark pullback from the 25.6% surge recorded in 2022.


Column chart of April price changes shows Raleigh at 0.3% in 2026, down from 25.6% peak in 2022.
April price growth slowed to just 0.3% in 2026, a stark pullback from the 25.6% surge recorded in 2022.


Horizontal bar chart ranks Raleigh at $445,000, below major coastal markets but above many Sun Belt and Midwest metros.
At $445,000, Raleigh sits below high-cost coastal leaders, but remains priced above several large Sun Belt and Midwest markets.


Horizontal ranking chart shows Raleigh annual price growth at 0.3%, placing near middle of markets with mixed positive and negative trends.
Raleigh’s 0.3% annual gain placed it in the middle of the pack, well below leaders that exceeded 7% growth.


Summary chart shows single-family prices at $476,000, declining 1.9%, townhomes flat at $345,000, and condos rising 30.8% to $388,499.
Condo prices surged 30.8% to $388,499, while single-family homes declined 1.9% and townhomes remained flat year over year.


Bar charts comparing property types show condos at $388,499 with 30.8% growth, single-family homes down 1.9% to $476,000 declining 1.9%, and townhomes flat.
Condos drove price growth with a 30.8% increase, contrasting with declining single-family values and flat townhome pricing.


Raleigh Inventory

The number of active listings in Raleigh increased by 20.3% in April compared to the same time last year, while national active listings rose by 6.3%.

Raleigh's inventory of homes for sale increases

Raleigh active listings rose by 1,027 year over year in April to 6,091 active listings. Raleigh ranked fourth, on a percentage basis, for the annual change in the number of homes for sale among the top 40 U.S. markets in April.

Raleigh active listings are below their pre-pandemic levels

Raleigh active listings were below their pre-pandemic levels in the month of April. Raleigh active listings were 21.4% below the April 2019 total of 7,746.

Raleigh single-family inventory grows

Raleigh single-family active listings grew by 18.5% to 4,556 in April. In comparison, townhome active listings rose by 21.5% to 1,253, and condo active listings increased by 50.0% to 282.


KPI chart for Raleigh showing 6,091 listings, 20.3% annual growth, 1,027 increase, outperforming US growth of 6.3%.
Raleigh inventory totaled 6,091 listings, rising 20.3% annually, well above the 6.3% U.S. growth rate and was ranked fourth nationally.


Bar chart of Raleigh listings from 2018–2026, rising from roughly 2,800 to over 6,000 after pandemic-era declines.
Listings have rebounded to more than 6,000 from lows near 3,000, which signaled a significant recovery in available inventory.


Area chart of Raleigh listing growth from 2018–2026, dropping near -40% before surging above 70% and stabilizing near 20%.
After a sharp contraction near 40%, inventory growth rebounded strongly, with gains stabilizing around 20% in recent readings.


Bar chart showing April listing changes from 2018–2026, falling 42.4% in 2021 before rising to 20.3% recently.
April listing growth rebounded to 20.3% following a 42.4% decline in 2021, which reflected a strong recovery in market supply.


Horizontal bar chart comparing metro listings, showing Raleigh at 6,091 units, below Houston at 42,808 and Dallas at 38,838.
With 6,091 listings, Raleigh ranked well below major metros like Houston and Dallas.


Bar chart of listing growth across markets, with Raleigh at 20.3%, trailing Columbus at 25.4% but above most peers.
Raleigh’s 20.3% inventory growth ranked among the top markets, though slightly below leaders like Columbus, at 25.4%.


KPI tiles showing Raleigh listings by type: 4,556 single-family, 1,253 townhomes, 282 condos, with growth ranging from 18.5% to 50%.
Condo listings rose 50%, and outpaced townhomes at 21.5% and single-family homes at 18.5%, indicating faster supply growth in smaller segments.


Bar charts comparing Raleigh listing levels and growth, showing 4,556 single-family homes and 18.5% growth versus 50% for condos.
Single-family homes dominated inventory at 4,556 listings, while condo supply expanded the fastest, growing 50% annually.


Raleigh Home Sales

The number of home sales in Raleigh increased by 7.2% in April compared to the same time last year, while national home sales rose by 0.6%.

Raleigh home sales increase

Raleigh home sales increased by 137 year over year on a nominal basis in April to 2,052. For context, 1,915 sales closed in Raleigh in April 2025.

Raleigh's annual home sales activity change ranks seventh nationally

Raleigh ranked seventh for the annual change in home sales out of the top 40 U.S. markets in April on a percentage basis. This year's April increase of 7.2% compares to the 6.6% year over year decrease in April 2025.

Single-family sales in Raleigh are higher than a year ago

Raleigh single-family sales increased by 6.2% in April to 1,580. In comparison, townhome sales rose by 7.0% to 411, and condo sales rose by 41.9% to 61.


Dashboard chart showing Raleigh home sales at 2,052, up 7.2% annually (an increase of 137), ranking 31st in volume and 7th in growth.
Raleigh recorded 2,052 home sales with 7.2% annual growth, which significantly outpaced the 0.6% national increase and put Raleigh in the top 10.


Bar chart of Raleigh home sales from 2018 to 2026, showing a peak above 3,000 in 2021 before declining to around 2,000 levels.
Home sales remained below the 2021 peak but have stabilized near 2,000 transactions, with modest recovery emerging into 2026.


Area chart shows Raleigh home sales growth swinging from 30% gains in 2021 to 30% declines in 2023, now modestly positive.
After extreme volatility, annual home sales growth returned to modest positive territory following the sharp contraction in 2022–2023.


Column chart shows Raleigh April home sales growth at 7.2% in 2026, rebounding from a 6.6% decline in 2025.
April sales increased 7.2% year over year, marking a solid recovery from 6.6% decline in 2025.


Horizontal bar chart ranks Raleigh with 2,052 home sales in April.
With 2,052 April sales, Raleigh ranked in the bottom quartile among the top 40 U.S. markets.


Ranking chart showing Raleigh home sales growth at 7.2%, placing it seventh among the top 40 U.S. markets.
Raleigh’s 7.2% growth was the seventh highest among the top 40 U.S. markets.


Summary chart showing single-family home sales at 1,580, up 6.2%, townhomes at 411, up 7.0%, and condos at 61, surging 41.9%.
Condo sales led growth with a 41.9% surge, while the single-family and townhome segments posted steady gains of 6.2% and 7.0%.


Bar charts show Raleigh single-family sales at 1,580, up 6.2%, townhome sales at 411, up 7.0%, and condo sales at 61, up 41.9%.
While single-family homes dominated sales volume, condos drove momentum with a 41.9% increase, far exceeding other property types.


For questions and commentary about this report:

Nick Leverett, Director of Market Analytics at CoStar and Homes.com, based in Raleigh, is available for interviews to provide expert insights on this data and the broader residential real estate market.

Nick Leverett

Director of Market Analytics

Homes.com

nleverett@costar.com

Homes.com releases preliminary figures on housing trends on a monthly basis. Although these numbers may change slightly once all transactions are accounted for, they provide an early indication of home price appreciation, inventory changes, and sales volume in Raleigh during April 2026.

For most markets, geographical coverage consists of the Census-defined Core-Based Statistical Area (CBSA). Data for San Francisco, Los Angeles, Miami, and New York is at the Metropolitan Division level.

Definition of Sale Prices

Median home price is the midpoint sale price of homes closed during each month. This data includes homes that are detached, attached, and condominiums. Detached homes are single-family units. Attached homes are townhomes, rowhouses, and duplexes. The condominium classification includes co-ops.

Definition of Inventory

Inventory is the number of unique active listings that were for sale during each month. This data includes homes that are detached, attached, and condominiums. Detached homes are single-family units. Attached homes are townhomes, rowhouses, and duplexes. The condominium classification includes co-ops.

Definition of Home Sales

The total number of closed home sales on the MLS during the month. This data includes homes that are detached, attached, and condominiums. Detached homes are single-family units. Attached homes are townhomes, rowhouses, and duplexes. The condominium classification includes co-ops.

About the Homes.com Market Analytics Team

The Homes.com Market Analytics group is a team of experienced analysts embedded in nearly 30 markets across North America. These experts reside in and regularly visit the markets they cover, providing local expertise and a national perspective on all sectors of real estate: residential, office, industrial, retail, and multifamily.

About Homes.com Analytics Data

The Homes.com analytic data is compiled by the CoStar Analytics team, the largest and most experienced analytics team in the real estate industry. The team consists of over 50 economists, analysts, and data scientists, who collectively have more than 900 years of real estate experience and over 30 advanced degrees. Analysts on the team live in and around the markets they cover, enabling them to build deep local knowledge and unique insights.

The data set being used by the team is one of the most comprehensive and robust in the industry. It spans all 393 metropolitan markets, 542 micropolitan markets, and over 35,000 local neighborhoods in the U.S. The data set is sourced from almost 500 Multiple Listing Service (MLS) providers around the country, as well as public record data from each market, and is supplemented by proprietary data collected by CoStar's team of over 2,000 researchers. It includes a complete inventory of all homes in the U.S., including homes for sale, homes for rent, new construction homes, as well as sale comps and rent comps.

Writer
Nick Leverett

Nick Leverett is the Director of Market Analytics at CoStar and Homes.com. Nick analyzes data and trends to provide insight into the commercial and residential real estate markets in Raleigh, Durham, Richmond, and the Piedmont Triad. On the residential side, he provides insights into home prices, inventory levels, and rental conditions. Nick’s 20 years of real estate experience include leading the market research team at the real estate investment firm Dilweg, where his research informed decisions on over $380 million in acquisitions, and advising clients on commercial real estate transactions as a practicing attorney. Nick is a regular speaker at key industry events, and his research and analysis have been featured in numerous media outlets, including The News & Observer, the Triangle Business Journal, and Axios Richmond. Nick holds a Juris Doctor from Washington & Lee University School of Law and a Master of Business Administration from Tulane University.

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